At SaaStr Annual’s Digital Day, Phil Libin, CEO of mmhmm and previously CEO of Evernote, shared his top learnings building SaaS products. The talk is definitely focsued on the early days, so if you’re at Scale, it may be more of a trip down memory lane … but it was a great and super engaging presentation.
My top 5 learnings from it below (done using mmhmm):
My top learnings:
#1. Be Careful About the Metrics and Ratios You Pick. At Evernote, there was a push to do more and more analysis on the metrics and numbers. The thesis was many metrics were too easy to game. For example, there are always 7.8 billion people who could use your product — the whole planet :). And your job as a founder is to move a subset to high-value users.
#2. Phil notes almost all startup questions can be answered via a “state machine”. Most users are on “Arrow 11” above — they’ve never used your product. At Evernote, with 450 employees, they had a team on each arrow. And each arrow above that pointed up was bad … and each one that pointed down was good.
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Jason Lemkin, Khareem Sudlow
